Tom Brady Restructures Contract - shifts $24 million

shmessy said:

Larry Legend wasn't so selfless.

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He pretty much was, contract wise.

luuked said:

That's actually a good point and something I often have trouble with.

Does Kraft really have most of his money tied up in some kind of investments/assets so he can't put together 30 million dollars within a few weeks ? I am seriously asking the question. Since I am not a crazily wealthy person I have no idea about "problems" like that.

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Yeah, these are problems we all wish we had!....

It really depends on what they are invested in. If it's a lot of illiquid assets (like hedge funds or real estate), it's hard to find buyers in a short time - thus if you need money right away, you have to sell at a steep discount (75 cents on the dollar). It's why you see rich people's houses stay on the market for years; they're not desperate for the money.

It's even tougher if the money is directly invested in other entities (i.e. in the Kraft TV production business, for example).

If it's in just regular mutual funds (even bond funds), it's a bit easier to move quickly without taking a big discount. But there are major transaction fees - may have to pay a commission for each security that is sold within the fund to come up with the money. So even though they're receiving full value, the transaction fees themselves may be unappealing.

@DougKyedNESN: Still not completely sure what Brady's contract restructure means. Frees up cash, but also makes him much easier to trade or cut.

Schefter got this from his contacts in the league office while all the other nitwits are chasing Jim Harbaugh's plane or hanging on every word spoken by Jets owner/creepy porn star "Woody Johnson." (How do you go through life with a name like that?!?)

Brady still counts against the cap if cut. He didn't give up his full guarantee. Nor did Brady give back any of his $42,510,000 guarantee if cut or traded, according to Miguel. If he gets injured, he gets the full guarantee which the team has insured.

Brady is a) not cheaper against the cap, and 2) more easily traded.

rochrist said:

He pretty much was, contract wise.

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Bird never left a penny on the table, lived next door to his agent Bob Woolf. Woolf just had a good relationship with Red.

Ask any waiter/waitress, bartender (or rookie, for that matter) how "selfless" Larry Bird.

Please don't put Larry Bird in the "selfless" category.

Hammer of Thor said:

True, but why pay any interest if the player is willing to give it all away for free?....

Edit: I honestly have no idea how much debt service they have on the stadium. Maybe they are tapped out for reasonable loan amounts because of it -- with the planned new construction in the stadium - and thus the interest rate would otherwise be high for a bridge loan? Just speculation though.

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I agree. I don't think the Pats are a "poor" owner but your point on financing is perfectly legit.

I think there is more to it.

http://www.patscap.com/brady.html#brady

I think Brady decided that if he gets hurt, he gets $24m. If he decides to leave the team, he can be released and make the $24m back on the open market.

What I don't know is the cap charge to the Pats if that happens. It might go down b/c it is no longer has a "skill" but an "injury" designation for the guarantee.

English Patriot said:

Not only does he deserve an o-line, he deserves a megatron like receiver for everything he has done. The way Denver has done for Peyton with guys like Demaryius and Sanders

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Demaryius was already there and they swapped out Decker for Sanders....the same Sanders that signed a RFA offer with the Pats last season only to have Pit match it.

goheels22002 said:

Schefter got this from his contacts in the league office while all the other nitwits are chasing Jim Harbaugh's plane or hanging on every word spoken by Jets owner/creepy porn star "Woody Johnson." (How do you go through life with a name like that?!?)

Brady still counts against the cap if cut. He didn't give up his full guarantee. If Schefter is right, he gave back $24M of his $42,510,000 if cut or traded, I think the number drops to $18.5 M if cut before June 1st 2015, and $6,000,000 after June 1, 2015. If he gets injured, he gets the full guarantee which the team has insured.

Brady is a) cheaper against the cap, 2) more easily traded, and 3) out of his mind.

Miguel? Is that correct?

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a) Multimillionaire wife and probably hundreds of millions of dollars worth of assets,
b) I doubt Belichick trades Brady before he requires a golf cart to get around, and
c) He wants to win more championships.

Brady is something else.

shmessy said:

Bird never left a penny on the table, lived next door to his agent Bob Woolf. Woolf just had a good relationship with Red.

Ask any waiter/waitress, bartender (or rookie, for that matter) how "selfless" Larry Bird was.

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That's why I said 'contract wise'. I never said he wasn't 'frugal'.

RhodyPatriot said:

Duncan has more rings.

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It is much harder to get a super bowl ring. The NBA playoffs are a joke compared to the NFL. It is much easier to build a dynasty in the NBA games because a 7- game playoff series all but guarantees the better team wins.

If Brady played the Giants in a 7 game series, he'd have 5 rings by now. Maybe 4 because the Rams would probably win a 7 game series in 01 :b

robertweathers said:

Shefter is everywhere dude.

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Question is who leaked this info and why?? Hmmm......

@patscap: In the middle of updating my Brady blog. Will return to answer your questions later tonight.

RhodyPatriot said:

Question is who leaked this info and why?? Hmmm......

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Woody Johnson.

rochrist said:

OT, but regarding that graphic, how is it POSSIBLE to have a 4.2 GPA?

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Stanford is among the handful of schools (Cornell, Columbia, and Michigan are some of the others) that award an A+ grade on transcripts, which is a 4.3 GPA. In practice a 4.2 would be very difficult to pull off, as it would mean a whole heap of otherwise uncommon A+ grades without anything lower than an A- on a transcript, but it is theoretically possible.

That image macro seems to overstate Sherman's qualifications - he graduated with a 3.9 and did not complete a graduate degree - which is odd since the real story still shows that he's a very sharp person.

rochrist said:

OT, but regarding that graphic, how is it POSSIBLE to have a 4.2 GPA?

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It's a ******** graphic. Stamford never released his GPA and, although I forget the exact number, he scored well under 1400 on his second time taking the SATs. The poster has been educated on the inaccuracy of the numbers before, but he still keeps it as his sig.

shmessy said:

Woody Johnson.

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Maybe he tampered with Brady too, and this is Brady's attempt to shoot his way out of town so he can go play for the J-E-T-S JETS JETS JETS!

shmessy said:

Bird never left a penny on the table, lived next door to his agent Bob Woolf. Woolf just had a good relationship with Red.

Ask any waiter/waitress, bartender (or rookie, for that matter) how "selfless" Larry Bird.

Please don't put Larry Bird in the "selfless" category.

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LB loved his money. No question.

rochrist said:

Interesting. Not a peep from any of the local guys.

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Squeaky and the Douchebag gonna be cranky for the new year. Shank's take will be: Brady is a a Kraft buttboy - bank on it.

robertweathers said:

LB loved his money. No question.

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Bird grew up poor. Might have something to do with it.

Miguel just said that Brady's cap numbers are not going to change. Just heard this on WEEI.

EDIT: This cap stuff is so confusing. I don't know how Miguel does it.